XRP News Today: Ripple Gains in Japan While SEC Filing Looms; BTC Hits $110k

Ripple Takes a Deeper Step into Japan

The SEC vs. Ripple case took a back seat on Monday, June 9, as the focus turned to Ripple’s continued expansion in Asia. News of Ripple eyeing a license in Japan to allow XRP for banking payments boosted demand for the token. RippleX fueled speculation about a potential license, posting:

“Ripple and Web3 Salon, supported by JETRO, are launching a new partnership for Japan-based Web3 startups: https://ripple.com/insights/unlocking-innovation-in-japan/ Open to early-stage teams building on the XRP Ledger with a focus on DeFi, tokenization, and payments.”

Ripple provided a detailed outline of its plan to unlock innovation in Japan, including offering grant funding of up to $200,000 per project over the next year. The latest developments follow the increasing adoption of XRP, with the support of SBI Holdings, to enable fast and low-fee cross-border transactions.

Ripple could mirror its Japan success story in the US after the SEC vs. Ripple case, a potentially significant outcome for XRP and the broader crypto market.

SEC vs. Ripple: Settlement Filing in Focus

US expansion plans potentially hinge on Judge Analisa Torres granting an indicative ruling on lifting the injunction prohibiting XRP sales to institutional investors. In May, Judge Analisa Torres rejected the request for an indicative ruling on settlement terms, citing procedural errors and inadequate arguments that a settlement serves institutional investors and the public.

A second filing and a favorable ruling would expedite the withdrawal of Ripple and the SEC’s appeals, concluding the case. The withdrawal of the SEC’s appeal against Judge Torres’ 2023 Programmatic Sales of XRP ruling could also pave the way for an XRP-spot ETF market. Demand for XRP could surge if Ripple gains traction in the US banking sector and the SEC approves pending XRP-spot ETF applications.

XRP Price Outlook: Court Filings and ETF News

XRP rose 2.36% on Monday, June 9, following Sunday’s 4.11% rally to close at $2.3217. While trailing the broader crypto market, which gained 4.17%, XRP extended its winning streak to four sessions.

XRP’s near-term price outlook hinges on Ripple case-related developments and spot ETF-related news.

A breakout above $2.35 could bring $2.5 and the May 12 high of $2.6553 into play. A sustained move through $2.6553 may open the door to $3 and the record high of $3.5505. Conversely, a drop below the 50-day EMA could enable the bears to target the 200-day EMA and the $1.9299 support level.

For a deeper dive, see our full XRP forecast here.

Bitcoin Hits $110k on US-China Trade Deal Hopes

While XRP extended its gains on June 9, bitcoin (BTC) reclaimed the $110k level for the first time since May 27. Hopes of a US-China trade deal boosted demand for the broader crypto market, sending the total crypto market cap to a June high of $3.4 trillion.

US-China trade talks resumed on June 9 after a period of de-escalation. Ahead of talks, China reportedly granted rare earth mineral export permits to US auto suppliers, raising hopes of productive negotiations. Talks reportedly lasted 6 hours and will resume on Tuesday, June 10.

US BTC-Spot ETFs See Rebound in Demand

The US BTC-spot ETF market benefited from improved sentiment, ending a two-day outflow streak. According to Farside Investors, key flow trends for June 9 included:

• Fidelity Wise Origin Bitcoin Fund (FBTC) saw net inflows of $173.0 million.
• Bitwise Bitcoin ETF (BITB) reported net inflows of $68.5 million.
• ARK 21Shares Bitcoin ETF (ARKB) had net inflows of $10.8 million.

Excluding pending flow data for BlackRock’s (BLK) iShares Bitcoin Trust (IBIT), the US BTC-spot ETF market saw total inflows of $265.3 million, reversing net outflows of $131.6 million from the week ending June 6.

ETF Store President Nate Garaci remarked on IBIT’s success story, stating:

“IBIT hits $70bil in 341 trading days. No other ETF even close. And remember… there are 11 other spot ETFs. Category overall is nearly $125bil.”

Bloomberg Intelligence Senior ETF Analyst Eric Balchunas remarked on the significant influence of the BTC-spot ETF market on sentiment, stating:

“When BlackRock filed for IBIT, the price was $30k and the stench of FTX was still in air. It’s now $110k (a return that is 7x that of the mighty S&P 500) and is now seen as legitimate for other big investors.”

BTC Price Outlook: Trade Developments, US Data, and ETF Flows

BTC surged 4.22% on June 9, following Sunday’s 0.20% gain to close at $110,252.

The near-term price trend depends on legislative developments, incoming US inflation data, US-China trade talks, and ETF flows.

Potential scenarios:

• Bearish Scenario: Renewed trade tensions, legislation roadblocks, hotter US inflation, and ETF outflows could push BTC toward the 50-day Exponential Moving Average (EMA) and $100,000.
• Bullish Scenario: A US-China trade deal, bipartisan support for crypto bills, lower US inflation, and ETF inflows could send BTC toward the all-time high of $111,917.

Key legislation includes the GENIUS Act, the CLARITY Act, and the Bitcoin Act. If lawmakers pass the GENIUS and CLARITY Acts, the focus could return to the Bitcoin Act. Senator Cynthia Lummis reintroduced the Bitcoin Act in 2025, proposing the US government acquire one million BTC over five years, with a 20-year mandatory holding period.

White House AI and Crypto Czar David Sachs commented on legislative developments on June 9, stating:

“The GENIUS Act is one step closer to passage, a huge milestone for the crypto community.”

What to Watch

Investors should monitor court filings in the SEC vs. Ripple case, US crypto legislative-related news, US-China trade talks, and spot-ETF flows. These factors will continue driving sentiment across XRP and BTC, potentially dictating whether the tokens revisit recent highs.

Explore analyst forecasts on where XRP and BTC may head next as legal and political factors unfold.